Power play in Meralco–who’ll save the Lopezes from Gloria?

May 4, 2008 § 10 Comments

A day after the denial of her underling, Philippine president Gloria Macapagal-Arroyo went on an offensive, openly declaring war against utility firm, MERALCO. Arroyo mask her intention of raiding this firm through the Energy Regulatory Board (ERB), which she said, should ask or probe MERALCO for raising its electricity rates this month. The timing was extremely superb because it came at a time when talks of a corporate takeover was circling within the MERALCO boardroom which would be validated when the board meets on May 27.

Talks are rife that government, through the GSIS, is maneuvering to wrest complete control of the firm from the Lopezes. The oligarchic family controls just a fraction more than GSIS, which is 33.4%. Two presidents have attempted, yet failed, to take over the utility firm. One of them is Diosdado Macapagal, Gloria’s father. His failure led to his disastrous defeat at the polls against Ferdinand Marcos.

Marcos turned against the Lopezes eventually. Corporate maneuverings did not work so Marcos employed another tactic–martial law. He arrested the Lopezes and forced them to give him their shares. It was only after EDSA 1 that the Lopezes were able to regain control, thanks to Cory Aquino.

Now, even at the twilight of her term, Gloria is trying to replicate what her father did, albeit, in a different manner. Part of her insidious plan is to temper public opposition of a takeover. So, it looks like the takeover is very sure already. Knowing Gloria, she’ll not do what she’s doing right now– publicly denouncing somebody and trying to court support from other oligarchs–if she and her mafia gang do not have a plan. They have a plan which they meticulously and patiently executed within a span of time.

GSIS president Winston Garcia, Gloria’s golden-haired boy, leads the charge. Should government wins in this battle, what would be the effects in other Lopez companies?

Surely, ABS-CBN channel 2 will be affected. For sometime now, ABS-CBN 2 has been losing millions of revenues due to stiff competition from main rival GMA 7. Though ratings are up, ABS-CBN 2 has past its prime, mainly due to its premium positioning which impacts on its bottomline. Sources say MERALCO has been subsidizing ABS-CBN 2. A government takeover would also mean some control over ABS-CBN 2.

So, expect a titanic battle come May 27 in the MERALCO boardroom.

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§ 10 Responses to Power play in Meralco–who’ll save the Lopezes from Gloria?

  • genetics says:

    well, isn’t it a good thing!!sana nga mawala na sa mga Lopez ang Meralco.Pahirap lang sila sa Pilipinas!!one of the major causes of poverty in the Philippines is that Meralco charges very high for electricity, sometimes a regular household in Metro Manila pays 40% of its monthly income to pay Meralco. And the demon Meralco Lopez amasses these wealth to demonize politicians who opposes their greed.

    The devil Lopez also owns independent Power plants so imagine they buy electricity from their own plants then distributes it in a very price to consumers, then people will watch ABS-CBN,owned again by the greedy Lopezes, e di parang ginisa ka sa sariling mantika. kuryente nila lahat, pati paggamit mo sa kanila din. not to mention the WATER,and Bayantel, Lopez din, hayy…tanga talaga mga Pinoy..

    If Gloria can break thwe Meralco monopoly, i will forever held her in my heart as the BEST PRESIDENT THIS COUNTRY EVER HAD, a woman with political will at di nakukuha ng propaganda lang..long live Madame Gloria,destroy the Lopezes!maraming matutuwa!~!!!

  • mars says:

    Ano naman ang alam ni Winston Garcia sa pagpapatakbo ng isang utility company? He himself was charged with a graft case back in the day. Sino siya para magsalita about corporate governance? Also, let’s just take a look at the current government owned corporations. Ang NAPOCOR, baon sa utang. Ang Terminal 3, di nga ginagamit. Ang National Steel, lugi na.

  • ILOVEgma says:

    At bakit parang atat si Garcia na bilhin ang shares ng mga Lopez sa Meralco, pera nya ba ang ipangbibili? A big NO. Pera ito ng mga tao who has/have/had been working for the government, pano na kaya ang pension ng mga taong ito? Kung anu man ang perang hawak ng GSIS, andyan yan to make sure na may pang suporta sila sa mga benepisyo ng mga miyembro nila, hindi something na pwede na lamang i invest sa kung saan gustuhin ng presidente nila sa utos na ring ng isang tao na ninakaw na ang pagka presidente ay nagmamalinis pa din.

  • donz says:

    the current power rate of Meralco is not the real point of Mr Garcia instead, this man is eager to TAKEOVER MERALCO.
    Eh kung ang GSIS nga hindi nya mapatakbo ng maayos eh.. Sana ma imbestigahan din ang GSIS if the people and the pensioners are satisfied in receiving their benefits.

    HIGH POWER RATES NGA BA talaga issue ni garcia or gusto nya talga magtake over?

  • regs says:

    etong si MR GArcia mukhang inconsistent sa mga statement nya during the senate hearing eh sabi nya it is strategic to invest sa MEralco becoz it is bright COMPANY at nag invest sya sa dito tapos aakusahan nya ng MISMANAGEMENT at IN EFFICIENT ANG MERALCO, ano ba naman yon????

    High POWER RATES NGA BA TALGA ANG ISSUE MO OR GUSTO MO LANG TALGA MAGKAROON NG CONTROL SA MERALCO?

  • roberts says:

    LACK OF TRANSPARENCY DAW ANG MERALCO?
    THE truth is.. meralco practice maximum transparency as the law requires it to be
    – Internal check and balance mechanism
    – financial statments regularly audited by external auditors
    – companys transactions above-board
    – MERALCO also regulated by securities and exchange commission and commission on audits
    – all contracts are screened by the committees in the board

  • kapirasongtinik says:

    http://www.philstar.com/index.php?Bansa&p=50&type=2&sec=54&aid=2008051864

    Bansa
    Meralco sinusulot ng 3 GMA crony

    Monday, May 19, 2008

    Tatlong “crony” umano ni Presidente Gloria Arroyo ang nag-aagawan sa pag-take-over sa Meralco.

    Ayon kay Bayan Muna Partylist Rep. Teddy Casino ang tatlong ito ang itinu­ turong “utak” sa demolisyon sa Meralco para magka­roon ng dahilan ng government take-over sa pinaka­malaking distribution utility sa bansa at hatiin ito sa tatlong franchise area.

    Ang plano ng tatlong malalaking pamilya ay ibinulgar matapos parata­ngan ni Casino na ang “Cebu Mafia” ang nasa likod ng mga serye ng atake sa pamilya Lopez at sa Meralco. Ginagamit umano ng mga pamilya na ito si Government Service Insurance System (GSIS) president and general manager Winston Garcia upang pataasin ang stake nito sa Meralco at atakihin ang mga polisiya ng nasabing distribution utility.

    “Clearly, Winston Garcia has a track record of using his position in GSIS to serve the interests of the Aboitiz group,” ayon naman kay Alliance of Concerned Teachers (ACT) president Antonio Tinio.

    Tinukoy din ni Tinio na ang pamilya Aboitiz ay nasa power generation at distribution din, banking, shipping at kilalang supporter at malapit sa Arroyo administration.

    Bukod sa pamilyang ito ay pinapaboran din ng Malakanyang ang Alsons Group na kon­tro­lado na­man ng pamil­yang Alcan­tara. Si Tomas Alcan­tara ay kilalang ba­hagi ng kit­chen Cabinet ni Pangu­long Arroyo at siya uma­nong tu­matayong lider ng bulong brigade ng Napocor mafia.

    Ayon sa mga sources sa industriya ng kuryente at opisyales ng Napocor, ang dalawang grupong ito ang nag-eengganyo sa Mala­ kan­yang na awayin ang kasalukuyang management ng Meralco sa pa­mamagitan ng pagkakalat ng intriga na ang mga Lopez ang sanhi ng mataas na presyo ng kuryente at hindi ang 12 porsyentong EVAT at ang mataas na singil ng Napocor.

    Idinagdag pa nila na ang mga Aboitiz at Alcan­tara ay naglalaway din sa mga power generating plants na pag-aari ng mga independent power producers (IPP) at gagamitin ang impluwensya nila kay Arroyo upang sungkitin ang mga ito. Bukod sa pagiging kamag-anak ni First Gentleman Mike Arroyo, isa sa mga lalaking Aboitiz ay matalik na kaibi­gan ni Pangulong Arroyo.

    Sinasabi rin ng mga sources sa Philippine Stock Exchange (PSE) na ang nangangasiwa sa pamimili ng Meralco shares ay Vivian Yuchengco, isang stock broker at opisyal ng PSE, at ang ATR Kim Eng ang siya namang dinadaanan ng mga transaksyon.

    Upang mapabilis ang paghawan ng Meralco shares, si Diosdado “Bu­boy” Macapagal at si En­rique Razon ng ICTSI, ang ingatyaman ng partido ni Arroyo, ang siyang gina­gawa ngayong bukal ng pera para mamili ng Meralco shares.

    Kinondena na ng mga kongresista ang ginaga­wang maniobra ni Garcia at ang sobrang pakikialam nito sa usapin ng Meralco ga­yong hindi niya maipali­wanag kung saan nauuwi ang salapi ng GSIS at kung bakit sangkaterbang rek­lamo na ang ginawa ng mga pensyonado at ng mga kawani na pamahalaan na bumubuhay sa institusyong ito.

    Lumilitaw din na bukod pa sa pagiging presidente at General Manager ng GSIS, si Garcia ay umuupo at sumasahod din ng milyun-milyong piso sa ibat-ibang kumpanya na may investment ang GSIS.

  • secelerromask says:

    Hello my friends 🙂
    😉

  • luis reyes says:

    Ano nga ba talaga ang motibo ni Mr. Garcia?

    Kung pagbaba ng kuryente OK lang. Pero change in Management dahil mismanage mukhang malabo yata.

    Meron bang mismanaged na kumpanya na nagdeclare ng kitang mahigit P 600 milyon ?

    Ano ba talaga ang interes ni Garcia? Maghari harian sa MERALCO. Knowing GMA ally siya What will the public expect.

  • Barney says:

    Di nyo ba alam na sa billing ng meralco 12% lng ang napupunta sa kanila 80% is paid to the power distributors and the remaining 8% sa government di pa kasama ang mga taxes na nakokolekta nila sa MERALCO ha. Winston Garcia pwede ba! ginagamit mo lang ang MERALCO para maibenta ng malaki ang shares mo. Dati di naman 35% ang hawak ng gobyerno ha. Namili ka lng ng namili ng shares earlier this year kse dapat may bibili ng shares mo. Kaso di natuloy ung usapan… Wahaha nakakaawa ka, sakim, ganid!

    Linisin mo muna ung issue mo sa GSIS pwede?
    Wag kang nakikigulo sa mga bagay na di mo alam tonto!!!

    Sasabihan mong lahat ng tao dun Meralco employees? Pwede keep your facts straight ha.
    Tapos sasabihin mo may connection parin si Wash SyCip sa SGV. May salitang research iho. Independence issue baka ikaw ang mayroong issue. Ikaw ang “Kapit-Tuko”, Kapit tuko kay Gloria.
    Mahiya ka nga kalalaki mong tao sipsip ka.

    Aasa ba kayong mapapababa ng gobyerno yan. Sana noon pa. Sna di na nila ipinasa yang EVAT.

    At bakt ngaun sila nagpapalano na ipatanggal ung EVAT, kse akala nila mapupunta sa Gobyerno ang MERALCO.

    Sana kse pinaghandaan nyo muna, magbibigay kau ng order ang dameng kulang, walang petsa, walang seal kulang ng signatory. Tapos sasabihin nyo aprubado eh wala man lng mapakitang minutes of meeting?

    Tingnan nyo ang nangyari sa BDO-Equitable, mukhang history repeats itself ha.

    Pwede ba Gloria gumising ka nga!!!
    Pilipinas lumaban ka!!!

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